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Community Futures to launch West Kootenay Junior Dragons’ Den competition
Modelled after CBC’s “The Dragons’ Den," where qualifying entrepreneurs pitch their business idea to a group of potential investors, CFDC of Greater Trail has created Junior Dragons’ Den, a West Kootenay wide initiative and call to action for student youth entrepreneurs ages 13-17, to create their own company.
Students may enter the competition in one of the following categories:
- Junior: Grades 8-10
- Senior: Grade 11-12
How it works
Students are required to submit a business concept paper for their business idea (standard outline provided), and a brief 1.5 to 2 minute video elevator pitch, explaining their business idea and why they should be chosen to compete in Junior Dragons’ Den.
Video submissions from each category will be profiled online at www.juniordragonsden.ca where people will be able to vote for their favourite pitch over a five week period. Business models can be in the form of a sole proprietorship, partnership or corporation and judging will be based upon a weighting of 40per cent of the online votes received for each pitch, and 60 per cent of the merits of the business concept paper submitted.
Short listed companies meet their mentors
The top five Junior Dragon companies from each category will advance to the competition. Each will be assigned a mentor from the local business community that will work with the company on everything from start-up considerations and marketing, to coaching, leadership and presentation skills.
“We view this as a great opportunity to encourage our youth to get involved in the local business community, through designing their own business,” said Don Freschi, general manager of CFDC Greater Trail in a release. “Our goal is to make this a fun, fast paced and high energy youth business competition, that encourages creativity and a sense of unlimited potential in our youth leaders of today."
The top five
The top five applicants from each category will then work on refining their business concept into a formal business plan (outline and template to be provided), as well as create and submit an updated Video elevator pitch for their business.
The live show
The competition culminates with the top five from each category pitching their business ideas Friday, June 6 in a live show format at Charles Bailey Theatre in Trail to a panel of local West Kootenay Dragons. Stay tuned at www.juniordragonsden.ca